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Senators Smith, Rounds Reintroduce Bipartisan Bill to Spur Economic Development in Underserved Communities
WASHINGTON – U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced bipartisan legislation to jumpstart economic development in economically distressed areas and address disparities in access to capital for underserved communities. The bill would strengthen and expand Community Development Financial Institutions (CDFI), which play a critical role in bringing capital and financial services to a wide range of underserved communities – from urban areas to small towns and rural communities to Tribal lands. “Unequal access to capital and financial services is a key driver of economic disparity in rural areas, communities of color, and Indigenous communities,” said Sen. Smith. “This legislation will jumpstart economic development in these communities by expanding and enhancing a program with a track record of effective capital investment and community development.” Their legislation—the CDFI Bond Guarantee Program Improvement Act, named for Community Development Financial Institutions–will extend authorization of the CDFI Bond Guarantee Program, while making it more reliable and accessible to smaller CDFIs. This legislation will expand and improve a successful program that operates without a taxpayer subsidy and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was enacted in 2010 to provide long-term, low-cost capital to CDFIs, which use the funding for economic development activities in underserved communities. The program’s authorization lapsed in 2014, but it has been extended on a year-by-year basis in annual appropriations bills. Under current program rules, borrowers must have a loan size of at least $100 million – which means that the program can only
Senator Smith, Colleagues Introduce Legislation to Help Make College Textbooks More Affordable
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN), Dick Durbin (D-IL), Angus King (I-ME), and Kyrsten Sinema (I-AZ), along with U.S. Representative Joe Neguse (D-CO-02) introduced bicameral legislation designed to help students manage costs by making high quality textbooks easily accessible to students, professors, and the public for free. The Affordable College Textbook Act would authorize a competitive grant program to support the creation of and expansion of open college textbooks—textbooks that are available under an open license, allowing professors, students, researchers, and others to freely access the materials. “Textbooks are a key part of a college education – but for too many students, their cost is exorbitant and a real strain on their budgets,” said Smith. “In Minnesota, we’ve seen how free, open access textbooks can make a huge difference and save students money—and I want more students to reap these benefits. This bill is a critical step in the effort to lower the cost of college for students.” “Students already are facing momentous barriers to obtaining a college education because of the rising costs of tuition. On top of this, students are expected to shell out additional dollars to purchase expensive, required textbooks for their coursework,” said Durbin. “Open textbooks are a tried and true way to save students money while ensuring they have access to quality instructional materials. I’m introducing the Affordable College Textbook Act again to support students pursuing higher education.” “Textbooks are a central part of a college education – but for students already struggling to
Sen. Tina Smith’s Statement on EPA Administrator Scott Pruitt’s Resignation
WASHINGTON, D.C. [07/05/18]—Today, U.S. Senator Tina Smith (D-Minn.)—a member of the Senate Energy Committee—released the following statement on Environmental Protection Agency (EPA) Administrator Scott Pruitt’s resignation. This statement originally appeared on Sen. Tina Smith’s official Senate Facebook page. “Scott Pruitt abused our trust. I’m glad he stepped down. I had repeatedly called on him to do so, and now the Trump Administration needs to replace him with somebody who has the integrity and effectiveness to fight for our environment. After all, that’s the job of the EPA Administrator.” ###
Sen. Tina Smith Presses to Help Schools in Minnesota, Across the Country Hit Hard by Teacher Shortages
WASHINGTON D.C [07/09/18]—Today, U.S. Sen. Tina Smith (D-Minn.)—a member of the Senate Education Committee—introduced legislation to help schools in Minnesota and across the country fill their growing need for STEM and special education teachers, to give rural districts resources to overcome teacher shortages, and to develop a more-diverse teacher workforce in the nation’s schools. Sen. Smith’s bill—the Addressing Teacher Shortages Act—would allow school districts across the country to apply for grants to help them to attract and retain the quality teachers they need. The bill would also provide funding for the Department of Education to administer the grant program and help
Sen. Tina Smith Presses to Help Schools in Minnesota, Across the Country Hit Hard by Teacher Shortages
WASHINGTON D.C [07/09/18]—Today, U.S. Sen. Tina Smith (D-Minn.)—a member of the Senate Education Committee—introduced legislation to help schools in Minnesota and across the country fill their growing need for STEM and special education teachers, to give rural districts resources to overcome teacher shortages, and to develop a more-diverse teacher workforce in the nation’s schools. Sen. Smith’s bill—the Addressing Teacher Shortages Act—would allow school districts across the country to apply for grants to help them to attract and retain the quality teachers they need. The bill would also provide funding for the Department of Education to administer the grant program and help
Sen. Tina Smith’s Remarks on President Trump’s Nomination of Brett Kavanaugh to Serve as Supreme Court Justice
WASHINGTON, D.C. [07/09/18]—U.S. Senator Tina Smith (D-Minn.) took to the Supreme Court steps shortly after President Donald Trump announced Brett Kavanaugh as his nominee to fill the vacancy left by Supreme Court Justice Anthony Kennedy’s retirement. Sen. Smith joined fellow Senate colleagues, advocacy organizations, and groups to call for a Justice who will protect the rights of all Americans. “This is a pivotal moment for our country–the person who fills this seat long held by Justice Kennedy will shape the course of American democracy for decades,” said Sen. Smith. “I had hoped that the President would appoint a consensus Justice, a person
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